Over the last year, property investments in Tennant Creek, 0860 have given investors a capital gain of 4.07%. This compares averagely with the 3.80% for NT as a whole.
Across a shorter period, Tennant Creek, 0860 has seen a median price increase of 6.98% over the last quarter.
On average over the past year, suburb has had 2.00 sales per month, which equates to 24 per year.
A $420 per week rent on the median house gives suburb investors a gross yield of circa 9.50%, without taking into account capital value appreciation, which has been averaging out at 3.16%.
Information supplied by:
Tennant Creek, NT – Occupancies stay low
Median house price: $190,000
Vacancy rate: 0.6%
Three-year growth: -24.0%
Tennant Creek showcases the heart of the Outback, with a wealth of history, nature and culture. The last gold rush in Australia happened in this area in the 1930s, and since then, it has been known as the Top End’s “heart of gold.”
The Battery Hill Mining Centre celebrates this heritage by offering an underground tour. The Warumungu people reside here, and the Nyinkka Nyunyu Art and Culture Centre pays tribute to the native culture next to the Winanjjikari Music Centre. Lake Mary Ann is a picturesque swimming spot that can be reached via a walking trail through the Honeymoon Ranges.
After prolonged period of decline, Tennant Creek is picking up, with vacancy rates remaining quite tight.